FORM 10-Q

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

(Mark One)

(X)   QUARTERLY REPORT PERSUANT TO SECTION 13 OR 15 (D) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the quarterly period ended September 30, 2000

or

( )   TRANSITION REPORT PERSUANT TO SECTION 13 OR 15 (D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______ to _______
Commission file number        0-21718



BOSTON CAPITAL TAX CREDIT FUND III L.P.(Exact name of registrant as specified in its charter)



|Delaware                          | 52-1749505         
|--------------------------------- | -------------------
|(State or other jurisdiction      | (I.R.S. Employer   
|of incorporation or organization) | Identification No.)



One Boston Place, Suite 2100, Boston, Massachusetts  02108(Address of principal executive offices)           (Zip Code)

Registrants telephone number, including area code (617)624-8900

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceeding 12 months (or for such shorter period
that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.



|Yes | X |  | No | _
|--- | - |  | -- | -









BOSTON CAPITAL TAX CREDIT FUND III L.P.



QUARTERLY REPORT ON FORM 10-QFOR THE QUARTER ENDED SEPTEMBER 30, 2000



TABLE OF CONTENTS

FOR THE QUARTER ENDED SEPTEMBER 30, 2000

BALANCE SHEETS

Series 15

Series 16

Series 17

Series 18

Series 19

STATEMENTS OF OPERATIONS

Three Months Ended SEPTEMBER 30,

Series 15

Series 16

Series 17

Series 18

Series 19

SIX Months Ended SEPTEMBER 30,	16

Series 15	17

Series 16	18

Series 17	*

Series 18	20

Series 19	21

STATEMENTS OF CHANGES IN PARTNERS CAPITAL	22

Series 15	23

Series 16	23

Series 17	24

Series 18	24

Series 19	25

STATEMENTS OF CASH FLOWS	26

SIX MONTHS Ended SEPTEMBER

Series 15

Series 16	30

Series 17	32

Series 18	34

Series 19

NOTES TO FINANCIAL STATEMENTS

NOTE A - ORGANIZATION

NOTE B - ACCOUNTING AND FINANCIAL REPORTING POLICIES

Investment Securities

Cost

NOTE C - RELATED PARTY TRANSACTIONS	41

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS	41

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS	43

Series 15	43

Series 16	44

Series 17	45

Series 18	46

Series 19	*

Liquidity

Capital Resources

Results of Operations	50

PART II - OTHER INFORMATION	55

SIGNATURES	56



Boston Capital Tax Credit Fund III L.P.BALANCE SHEETS



|                                                                                                                                                                       | September 30,
2000
(Unaudited) | March 31,
2000
(Audited)
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------ | ------------------------
|ASSETS                                                                                                                                                                 |                                |                         
|INVESTMENTS IN OPERATING PARTNERSHIPS (Note D)                                                                                                                         | $ 91,739,178                   | $ 96,374,955            
|                                                                                                                                                                       |                                |                         
|OTHER ASSETS                                                                                                                                                           |                                |                         
|Cash and cash equivalents                                                                                                                                              | 1,717,309                      | 1,754,063               
|Investments                                                                                                                                                            | 1,574,301                      | 1,538,967               
|Notes receivable                                                                                                                                                       | 1,309,982                      | 1,364,322               
|Deferred acquisition costs, net of accumulated amortization (Note B)                                                                                                   | 1,508,901                      | 1,543,349               
|Other assets                                                                                                                                                           | 3,021,745                      | 2,940,636               
|                                                                                                                                                                       | $100,871,416                   | $105,516,292            
|                                                                                                                                                                       |                                |                         
|LIABILITIES                                                                                                                                                            |                                |                         
|                                                                                                                                                                       |                                |                         
|Accounts payable & accrued expenses 
(Note C)                                                                                                                          | $      4,551                   | $      4,553            
|Accounts payable affiliates                                                                                                                                            | 14,705,733                     | 13,374,147              
|Capital contributions payable                                                                                                                                          | 1,422,250                      | 1,432,250               
|                                                                                                                                                                       | 16,132,534                     | 14,810,950              
|                                                                                                                                                                       |                                |                         
|PARTNERS CAPITAL                                                                                                                                                       |                                |                         
|                                                                                                                                                                       |                                |                         
|Limited Partners

Units of limited partnership
interest, $10 stated value per BAC;
22,000,000 authorized BACs;
21,996,102 issued and outstanding,
as of March 31, 2000 | 85,781,154                     | 91,687,950              
|General Partner                                                                                                                                                        | (1,042,272)                    | (982,608)               
|                                                                                                                                                                       | 84,738,882                     | 90,705,342              
|                                                                                                                                                                       | $100,871,416                   | $105,516,292            

















The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund III L.P.
BALANCE SHEETS

Series 15



|                                                                                                                                                                                  | September 30,
2000
(Unaudited) | March 31,
2000
(Audited)
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------ | ------------------------
|ASSETS                                                                                                                                                                            |                                |                         
|INVESTMENTS IN OPERATING
   PARTNERSHIPS(Note D)                                                                                                                                  | $11,451,111                    | $12,293,726             
|                                                                                                                                                                                  |                                |                         
|OTHER ASSETS                                                                                                                                                                      |                                |                         
|Cash and cash equivalents                                                                                                                                                         | 332,986                        | 308,497                 
|Investments                                                                                                                                                                       | 141,938                        | 135,167                 
|Notes receivable                                                                                                                                                                  | -                              | 32,170                  
|Deferred acquisition costs, 
   net of accumulated amortization
  (Note B)                                                                                                        | 231,256                        | 236,512                 
|Other assets                                                                                                                                                                      | 855,487                        | 858,625                 
|                                                                                                                                                                                  | $13,012,778                    | $13,864,697             
|                                                                                                                                                                                  |                                |                         
|LIABILITIES                                                                                                                                                                       |                                |                         
|                                                                                                                                                                                  |                                |                         
|Accounts payable & accrued expenses 
  (Note C)                                                                                                                                   | $     1,145                    | $      1,145            
|Accounts payable affiliates                                                                                                                                                       | 4,008,439                      | 3,734,413               
|Capital contributions payable                                                                                                                                                     | 32,922                         | 32,922                  
|                                                                                                                                                                                  | 4,042,506                      | 3,768,480               
|                                                                                                                                                                                  |                                |                         
|PARTNERS CAPITAL                                                                                                                                                                  |                                |                         
|                                                                                                                                                                                  |                                |                         
|Limited Partners
Units of limited partnership 
   interest, $10 stated value per
   BAC; 22,000,000 authorized BACs;
   3,870,500 issued and outstanding,
   as of March 31, 2000 | 9,213,240                      | 10,327,926              
|General Partner                                                                                                                                                                   | (242,968)                      | (231,709)               
|                                                                                                                                                                                  | 8,970,272                      | 10,096,217              
|                                                                                                                                                                                  | $13,012,778                    | $13,864,697             



The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund III L.P.
BALANCE SHEETS

Series 16



|                                                                                                                                                                                     | September 30,
2000
(Unaudited) | March 31,
2000
(Audited)
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------------------ | ------------------------
|ASSETS                                                                                                                                                                               |                                |                         
|INVESTMENTS IN OPERATING
   PARTNERSHIPS (Note D)                                                                                                                                    | $22,435,599                    | $23,933,776             
|                                                                                                                                                                                     |                                |                         
|OTHER ASSETS                                                                                                                                                                         |                                |                         
|Cash and cash equivalents                                                                                                                                                            | 288,981                        | 307,415                 
|Investments                                                                                                                                                                          | 666,351                        | 652,708                 
|Notes receivable                                                                                                                                                                     | -                              | -                       
|Deferred acquisition costs, 
   net of accumulated amortization 
  (Note B)                                                                                                          | 370,746                        | 379,171                 
|Other assets                                                                                                                                                                         | 134,642                        | 130,891                 
|                                                                                                                                                                                     | $23,896,319                    | $25,403,961             
|                                                                                                                                                                                     |                                |                         
|LIABILITIES                                                                                                                                                                          |                                |                         
|                                                                                                                                                                                     |                                |                         
|Accounts payable & accrued expenses 
  (Note C)                                                                                                                                      | $         -                    | $         -             
|Accounts payable affiliates                                                                                                                                                          | 3,465,035                      | 3,119,046               
|Capital contributions payable                                                                                                                                                        | 140,006                        | 140,006                 
|                                                                                                                                                                                     | 3,605,041                      | 3,259,052               
|                                                                                                                                                                                     |                                |                         
|PARTNERS CAPITAL                                                                                                                                                                     |                                |                         
|Limited Partners
Units of limited partnership    
   Interest, $10 stated value per
   BAC; 22,000,000 authorized BACs;
   5,429,402 issued and outstanding,
   as of March 31, 2000 | 20,554,974                     | 22,390,069              
|General Partner                                                                                                                                                                      | (263,696)                      | (245,160)               
|                                                                                                                                                                                     |                                |                         
|                                                                                                                                                                                     | 20,291,278                     | 22,144,909              
|                                                                                                                                                                                     | $23,896,319                    | $25,403,961             







The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund III L.P.
BALANCE SHEETSSeries 17



|                                                                                                                                                                                            | September 30,
2000
(Unaudited) | March 31,
2000
(Audited)
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------ | ------------------------
|ASSETS                                                                                                                                                                                      |                                |                         
|INVESTMENTS IN OPERATING 
   PARTNERSHIPS (Note D)                                                                                                                                          | $20,801,853                    | $21,661,017             
|                                                                                                                                                                                            |                                |                         
|OTHER ASSETS                                                                                                                                                                                |                                |                         
|Cash and cash equivalents                                                                                                                                                                   | 415,285                        | 404,005                 
|Investments                                                                                                                                                                                 | -                              | -                       
|Notes receivable                                                                                                                                                                            | 1,309,982                      | 1,332,152               
|Deferred acquisition costs, 
   net of accumulated amortization
  (Note B)                                                                                                                  | 334,323                        | 342,098                 
|Other assets                                                                                                                                                                                | 1,919,943                      | 1,874,478               
|                                                                                                                                                                                            | $24,781,386                    | $25,613,750             
|                                                                                                                                                                                            |                                |                         
|LIABILITIES                                                                                                                                                                                 |                                |                         
|                                                                                                                                                                                            |                                |                         
|Accounts payable & accrued expenses 
  (Note C)                                                                                                                                             | $         -                    | $         -             
|Accounts payable affiliates                                                                                                                                                                 | 4,300,749                      | 3,985,826               
|Capital contributions payable                                                                                                                                                               | 1,206,768                      | 1,206,768               
|                                                                                                                                                                                            | 5,507,517                      | 5,192,594               
|                                                                                                                                                                                            |                                |                         
|PARTNERS CAPITAL                                                                                                                                                                            |                                |                         
|                                                                                                                                                                                            |                                |                         
|Limited Partners 
  
   Units of limited partnership    
   Interest, $10 stated value per
   BAC; 22,000,000 authorized BACs;
   5,000,000 issued and outstanding,
   as of March 31, 2000 | 19,510,810                     | 20,646,624              
|General Partner                                                                                                                                                                             | (236,941)                      | (225,468)               
|                                                                                                                                                                                            | 19,273,869                     | 20,421,156              
|                                                                                                                                                                                            | $24,781,386                    | $25,613,750             



The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund III L.P.
BALANCE SHEETSSeries 18



|                                                                                                                                                                                            | September 30,
2000
(Unaudited) | March 31,
2000
(Audited)
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------ | ------------------------
|ASSETS                                                                                                                                                                                      |                                |                         
|INVESTMENTS IN OPERATING
PARTNERSHIPS (NOTE D)                                                                                                                                              | $ 15,886,146                   | $ 16,650,144            
|                                                                                                                                                                                            |                                |                         
|OTHER ASSETS                                                                                                                                                                                |                                |                         
|Cash and cash equivalents                                                                                                                                                                   | 360,375                        | 377,094                 
|Investments                                                                                                                                                                                 | 107,824                        | 102,771                 
|Notes receivable                                                                                                                                                                            | -                              | -                       
|Deferred acquisition costs, net of
accumulated amortization(Note B)                                                                                                                         | 252,036                        | 257,743                 
|Other assets                                                                                                                                                                                | 89,592                         | 62,002                  
|                                                                                                                                                                                            | $16,695,973                    | $17,449,754             
|                                                                                                                                                                                            |                                |                         
|LIABILITIES                                                                                                                                                                                 |                                |                         
|                                                                                                                                                                                            |                                |                         
|Accounts payable & accrued expenses
(Note C)                                                                                                                                                | $          -                   | $          -            
|Accounts payable affiliates                                                                                                                                                                 | 1,852,911                      | 1,661,937               
|Capital contributions payable                                                                                                                                                               | 18,554                         | 18,554                  
|                                                                                                                                                                                            | 1,871,465                      | 1,680,491               
|                                                                                                                                                                                            |                                |                         
|PARTNERS CAPITAL                                                                                                                                                                            |                                |                         
|                                                                                                                                                                                            |                                |                         
|Limited Partners 
  
   Units of limited partnership    
   Interest, $10 stated value per
   BAC; 22,000,000 authorized BACs;
   3,616,200 issued and outstanding,
   as of March 31, 2000 | 14,986,491                     | 15,921,798              
|General Partner                                                                                                                                                                             | (161,983)                      | (152,535)               
|                                                                                                                                                                                            | 14,824,508                     | 15,769,263              
|                                                                                                                                                                                            | $16,695,973                    | $17,449,754             





The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund III L.P.
BALANCE SHEETSSeries 19





|                                                                                                                                                                                            | September 30,
2000
(Unaudited) | March 31,
2000
(Audited)
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------ | ------------------------
|ASSETS                                                                                                                                                                                      |                                |                         
|INVESTMENTS IN OPERATING
   PARTNERSHIPS (NOTE D)                                                                                                                                           | $21,164,469                    | $ 21,836,292            
|                                                                                                                                                                                            |                                |                         
|OTHER ASSETS                                                                                                                                                                                |                                |                         
|Cash and cash equivalents                                                                                                                                                                   | 319,682                        | 357,052                 
|Investments                                                                                                                                                                                 | 658,188                        | 648,321                 
|Notes receivable                                                                                                                                                                            | -                              | -                       
|Deferred acquisition costs, 
   net of accumulated amortization
   (Note B)                                                                                                                 | 320,540                        | 327,825                 
|Other assets                                                                                                                                                                                | 22,081                         | 14,640                  
|                                                                                                                                                                                            | $22,484,960                    | $23,184,130             
|                                                                                                                                                                                            |                                |                         
|LIABILITIES                                                                                                                                                                                 |                                |                         
|                                                                                                                                                                                            |                                |                         
|Accounts payable & accrued expenses
   (Note C)                                                                                                                                             | $     3,406                    | $      3,408            
|Accounts payable affiliates                                                                                                                                                                 | 1,078,599                      | 872,925                 
|Capital contributions payable                                                                                                                                                               | 24,000                         | 34,000                  
|                                                                                                                                                                                            | 1,106,005                      | 910,333                 
|                                                                                                                                                                                            |                                |                         
|PARTNERS CAPITAL                                                                                                                                                                            |                                |                         
|                                                                                                                                                                                            |                                |                         
|Limited Partners 
  
   Units of limited partnership    
   Interest, $10 stated value per
   BAC; 22,000,000 authorized BACs;
   4,080,000 issued and outstanding,
   as of March 31, 2000 | 21,515,639                     | 22,401,533              
|General Partner                                                                                                                                                                             | (136,684)                      | (127,736)               
|                                                                                                                                                                                            | 21,378,955                     | 22,273,797              
|                                                                                                                                                                                            | $22,484,960                    | $23,184,130             



The accompanying notes are an integral part of this statement



Boston Capital Tax Credit Fund III L.P.STATEMENTS OF OPERATIONS Three Months Ended September 30,
(Unaudited)





|                                                     | 2000         | 1999        
|---------------------------------------------------- | ------------ | ------------
|                                                     |              |             
|Income                                               |              |             
|Interest income                                      | $     37,213 | $     44,332
|Other income                                         | -            | 12,900      
|                                                     | 37,213       | 57,232      
|                                                     |              |             
|Share of loss from Operating 
  Partnerships(Note D) | (2,124,298)  | (2,831,342) 
|                                                     |              |             
|Expenses                                             |              |             
|Professional fees                                    | 115,440      | 110,850     
|Fund management fee (Note C)                         | 629,550      | 574,925     
|Amortization                                         | 17,224       | 17,224      
|General and administrative expenses                  | 33,235       | 33,074      
|                                                     | 795,449      | 736,073     
|                                                     |              |             
|NET LOSS                                             | $(2,882,534) | $(3,510,183)
|                                                     |              |             
|Net loss allocated to limited partners               | $(2,853,709) | $(3,475,081)
|                                                     |              |             
|Net loss allocated general partner                   | $(28,825)    | $(35,102)   
|                                                     |              |             
|Net loss per BAC                                     | $(.64)       | $(.77)      
|                                                     |              |             





The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF OPERATIONS
Three Months Ended September 30,
(Unaudited)

Series 15



|                                                     | 2000        | 1999       
|---------------------------------------------------- | ----------- | -----------
|                                                     |             |            
|Income                                               |             |            
|Interest income                                      | $     4,881 | $     6,346
|Other income                                         | -           | -          
|                                                     | 4,881       | 6,346      
|                                                     |             |            
|Share of loss from Operating 
  Partnerships(Note D) | (387,097)   | (392,273)  
|                                                     |             |            
|Expenses                                             |             |            
|Professional fees                                    | 27,000      | 27,120     
|Fund management fee                                  | 130,963     | 115,958    
|Amortization                                         | 2,628       | 2,628      
|General and administrative expenses                  | 6,936       | 7,553      
|                                                     | 167,527     | 153,259    
|                                                     |             |            
|NET LOSS                                             | $(549,743)  | $(539,186) 
|                                                     |             |            
|Net loss allocated to limited partners               | $(544,246)  | $(533,794) 
|                                                     |             |            
|Net loss allocated general partner                   | $(5,497)    | $(5,392)   
|                                                     |             |            
|Net loss per BAC                                     | $(.14)      | $(.13)     
|                                                     |             |            

The accompanying notes are an integral part of this statement



Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF OPERATIONS
Three Months Ended September 30,    
(Unaudited)

Series 16



|                                                     | 2000         | 1999        
|---------------------------------------------------- | ------------ | ------------
|                                                     |              |             
|Income                                               |              |             
|Interest income                                      | $     10,715 | $     12,421
|Other income                                         | -            | 150         
|                                                     | 10,715       | 12,571      
|                                                     |              |             
|Share of loss from Operating 
  Partnerships(Note D) | (674,182)    | (928,850)   
|                                                     |              |             
|Expenses                                             |              |             
|Professional fees                                    | 27,500       | 29,870      
|Fund management fee                                  | 170,359      | 162,551     
|Amortization                                         | 4,213        | 4,213       
|General and administrative expenses                  | 7,604        | 10,241      
|                                                     | 209,676      | 206,875     
|                                                     |              |             
|NET LOSS                                             | $(873,143)   | $(1,123,154)
|                                                     |              |             
|Net loss allocated to limited partners               | $(864,412)   | $(1,111,922)
|                                                     |              |             
|Net loss allocated general partner                   | $(8,731)     | $(11,232)   
|                                                     |              |             
|Net loss per BAC                                     | $(.16)       | $(.21)      
|                                                     |              |             









The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF OPERATIONS
Three Months Ended September 30,    
(Unaudited)Series 17



|                                                     | 2000         | 1999        
|---------------------------------------------------- | ------------ | ------------
|                                                     |              |             
|Income                                               |              |             
|Interest income                                      | $      3,247 | $      3,302
|Other income                                         | -            | 11,850      
|                                                     | 3,247        | 15,152      
|                                                     |              |             
|Share of loss from Operating 
  Partnerships(Note D) | (384,948)    | (625,056)   
|                                                     |              |             
|Expenses                                             |              |             
|Professional fees                                    | 22,000       | 22,120      
|Fund management fee                                  | 132,904      | 125,592     
|Amortization                                         | 3,887        | 3,887       
|General and administrative expenses                  | 7,972        | 1,458       
|                                                     | 166,763      | 153,057     
|                                                     |              |             
|NET LOSS                                             | $(548,464)   | $(762,961)  
|                                                     |              |             
|Net loss allocated to limited partners               | $(542,979)   | $(755,331)  
|                                                     |              |             
|Net loss allocated general partner                   | $(5,485)     | $(7,630)    
|                                                     |              |             
|Net loss per BAC                                     | $(.11)       | $(.15)      
|                                                     |              |             

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF OPERATIONS
Three Months Ended September 30,    
(Unaudited)Series 18





|                                                     | 2000         | 1999        
|---------------------------------------------------- | ------------ | ------------
|                                                     |              |             
|Income                                               |              |             
|Interest Income                                      | $      3,397 | $      4,556
|                                                     | -            | -           
|                                                     | 3,397        | 4,556       
|                                                     |              |             
|Share of loss from Operating 
  Partnerships(Note D) | (340,994)    | (474,421)   
|                                                     |              |             
|Expenses                                             |              |             
|Professional fees                                    | 18,066       | 17,120      
|Fund management fee                                  | 92,487       | 70,487      
|Amortization                                         | 2,853        | 2,853       
|General and administrative expenses                  | 5,014        | 6,432       
|                                                     | 118,420      | 96,892      
|                                                     |              |             
|NET LOSS                                             | $(456,017)   | $(566,757)  
|                                                     |              |             
|Net loss allocated to limited partners               | $(451,457)   | $(561,089)  
|                                                     |              |             
|Net loss allocated general partner                   | $(4,560)     | $(5,668)    
|                                                     |              |             
|Net loss per BAC                                     | $(.12)       | $(.15)      
|                                                     |              |             

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF OPERATIONS
Three Months Ended September 30,       
(Unaudited)Series 19



|                                                     | 2000         | 1999        
|---------------------------------------------------- | ------------ | ------------
|                                                     |              |             
|Income                                               |              |             
|Interest income                                      | $     14,973 | $     17,707
|Other income                                         | -            | 900         
|                                                     | 14,973       | 18,607      
|                                                     |              |             
|Share of loss from Operating 
  Partnerships(Note D) | (337,077)    | (410,742)   
|                                                     |              |             
|Expenses                                             |              |             
|Professional fees                                    | 20,874       | 14,620      
|Fund management fee                                  | 102,837      | 100,337     
|Amortization                                         | 3,643        | 3,643       
|General and administrative expenses                  | 5,709        | 7,390       
|                                                     | 133,063      | 125,990     
|                                                     |              |             
|NET LOSS                                             | $(455,167)   | $(518,125)  
|                                                     |              |             
|Net loss allocated to limited partners               | $(450,615)   | $(512,944)  
|                                                     |              |             
|Net loss allocated general partner                   | $(4,552)     | $(5,181)    
|                                                     |              |             
|Net loss per BAC                                     | $(.11)       | $(.13)      
|                                                     |              |             

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF OPERATIONS
Six Months Ended September 30,       
(Unaudited)



|                                                     | 2000         | 1999        
|---------------------------------------------------- | ------------ | ------------
|                                                     |              |             
|Income                                               |              |             
|Interest income                                      | $     65,392 | $     93,885
|Other income                                         | 999          | 23,117      
|                                                     | 66,391       | 117,002     
|                                                     |              |             
|Share of loss from Operating 
  Partnerships(Note D) | (4,614,002)  | (5,545,739) 
|                                                     |              |             
|Expenses                                             |              |             
|Professional fees                                    | 128,812      | 163,737     
|Fund management fee (Note C)                         | 1,177,365    | 1,169,952   
|Amortization                                         | 34,448       | 34,618      
|General and administrative expenses                  | 78,224       | 93,160      
|                                                     | 1,418,849    | 1,461,467   
|                                                     |              |             
|NET LOSS                                             | $(5,966,460) | $(6,890,204)
|                                                     |              |             
|Net loss allocated to limited partners               | $(5,906,796) | $(6,821,302)
|                                                     |              |             
|Net loss allocated general partner                   | $(59,664)    | $(68,902)   
|                                                     |              |             
|Net loss per BAC                                     | $(1.33)      | $(1.53)     
|                                                     |              |             



The accompanying notes are an integral part of this statement



Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF OPERATIONS
Six Months Ended September 30,       
(Unaudited)Series 15



|                                                     | 2000         | 1999        
|---------------------------------------------------- | ------------ | ------------
|                                                     |              |             
|Income                                               |              |             
|Interest income                                      | $      9,175 | $     19,840
|Other income                                         | 9            | -           
|                                                     | 9,184        | 19,840      
|                                                     |              |             
|Share of loss from Operating 
  Partnerships(Note D) | (842,603)    | (905,022)   
|                                                     |              |             
|Expenses                                             |              |             
|Professional fees                                    | 30,230       | 41,718      
|Fund management fee                                  | 241,854      | 235,474     
|Amortization                                         | 5,256        | 5,256       
|General and administrative expenses                  | 15,186       | 18,164      
|                                                     | 292,526      | 300,612     
|                                                     |              |             
|NET LOSS                                             | $(1,125,945) | $(1,185,794)
|                                                     |              |             
|Net loss allocated to limited partners               | $(1,114,686) | $(1,173,936)
|                                                     |              |             
|Net loss allocated general partner                   | $(11,259)    | $(11,858)   
|                                                     |              |             
|Net loss per BAC                                     | $(.29)       | $(.30)      
|                                                     |              |             

The accompanying notes are an integral part of this statement



Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF OPERATIONS
Six Months Ended September 30,       
(Unaudited)Series 16



|                                                     | 2000         | 1999        
|---------------------------------------------------- | ------------ | ------------
|                                                     |              |             
|Income                                               |              |             
|Interest income                                      | $     21,140 | $     24,742
|Other income                                         | 436          | 300         
|                                                     | 21,576       | 25,042      
|                                                     |              |             
|Share of loss from Operating 
  Partnerships(Note D) | (1,493,347)  | (1,758,599) 
|                                                     |              |             
|Expenses                                             |              |             
|Professional fees                                    | 31,783       | 42,130      
|Fund management fee                                  | 322,789      | 315,377     
|Amortization                                         | 8,425        | 8,425       
|General and administrative expenses                  | 18,863       | 23,279      
|                                                     | 381,860      | 389,211     
|                                                     |              |             
|NET LOSS                                             | $(1,853,631) | $(2,122,768)
|                                                     |              |             
|Net loss allocated to limited partners               | $(1,835,095) | $(2,101,540)
|                                                     |              |             
|Net loss allocated general partner                   | $(18,536)    | $(21,228)   
|                                                     |              |             
|Net loss per BAC                                     | $(.34)       | $(.39)      
|                                                     |              |             

The accompanying notes are an integral part of this statement



Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF OPERATIONS
Six Months Ended September 30,       
(Unaudited)Series 17



|                                                     | 2000         | 1999        
|---------------------------------------------------- | ------------ | ------------
|                                                     |              |             
|Income                                               |              |             
|Interest income                                      | $      6,245 | $      7,919
|Other income                                         | 554          | 12,000      
|                                                     | 6,799        | 19,919      
|                                                     |              |             
|Share of loss from Operating 
  Partnerships(Note D) | (857,964)    | (1,230,720) 
|                                                     |              |             
|Expenses                                             |              |             
|Professional fees                                    | 24,446       | 32,931      
|Fund management fee                                  | 245,323      | 258,433     
|Amortization                                         | 7,775        | 7,775       
|General and administrative expenses                  | 18,578       | 21,670      
|                                                     | 296,122      | 320,809     
|                                                     |              |             
|NET LOSS                                             | $(1,147,287) | $(1,531,610)
|                                                     |              |             
|Net loss allocated to limited partners               | $(1,135,814) | $(1,516,294)
|                                                     |              |             
|Net loss allocated general partner                   | $(11,473)    | $(15,316)   
|                                                     |              |             
|Net loss per BAC                                     | $(.23)       | $(.30)      
|                                                     |              |             

The accompanying notes are an integral part of this statement



Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF OPERATIONS
Six Months Ended September 30,       
(Unaudited)Series 18



|                                                     | 2000         | 1999        
|---------------------------------------------------- | ------------ | ------------
|                                                     |              |             
|Income                                               |              |             
|Interest income                                      | $      6,707 | $      9,037
|Other income                                         | -            | -           
|                                                     | 6,707        | 9,037       
|                                                     |              |             
|Share of loss from Operating 
  Partnerships(Note D) | (748,344)    | (815,220)   
|                                                     |              |             
|Expenses                                             |              |             
|Professional fees                                    | 19,982       | 26,243      
|Fund management fee                                  | 165,403      | 160,944     
|Amortization                                         | 5,707        | 5,707       
|General and administrative expenses                  | 12,026       | 14,220      
|                                                     | 203,118      | 207,114     
|                                                     |              |             
|NET LOSS                                             | $(944,755)   | $(1,013,297)
|                                                     |              |             
|Net loss allocated to limited partners               | $(935,307)   | $(1,003,164)
|                                                     |              |             
|Net loss allocated general partner                   | $(9,448)     | $(10,133)   
|                                                     |              |             
|Net loss per BAC                                     | $(.26)       | $(.28)      
|                                                     |              |             

The accompanying notes are an integral part of this statement



Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF OPERATIONS
Six Months Ended September 30,       
(Unaudited)Series 19



|                                                     | 2000         | 1999        
|---------------------------------------------------- | ------------ | ------------
|                                                     |              |             
|Income                                               |              |             
|Interest income                                      | $     22,125 | $     32,347
|Other income                                         | -            | 10,817      
|                                                     | 22,125       | 43,164      
|                                                     |              |             
|Share of loss from Operating 
  Partnerships(Note D) | 671,744)     | (836,178)   
|                                                     |              |             
|Expenses                                             |              |             
|Professional fees                                    | 22,371       | 20,715      
|Fund management fee                                  | 201,996      | 199,724     
|Amortization                                         | 7,285        | 7,455       
|General and administrative expenses                  | 13,571       | 15,827      
|                                                     | 245,223      | 243,721     
|                                                     |              |             
|NET LOSS                                             | $(894,842)   | $(1,036,735)
|                                                     |              |             
|Net loss allocated to limited partners               | $(885,894)   | $(1,026,368)
|                                                     |              |             
|Net loss allocated general partner                   | $(8,948)     | $(10,367)   
|                                                     |              |             
|Net loss per BAC                                     | $(.22)       | $(.26)      
|                                                     |              |             

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund III L.P.STATEMENTS OF CHANGES IN PARTNERS CAPITAL
Six Months Ended September 30,
(Unaudited)



|                                                   | Assignees    | General
Partner | Total       
|-------------------------------------------------- | ------------ | --------------- | ------------
|                                                   |              |                 |             
|Partners Capital 
 (deficit)
  April 1, 2000       | $ 91,687,950 | $  (982,608)    | $ 90,705,342
|                                                   |              |                 |             
|                                                   |              |                 |             
|Net income (loss)                                  | (5,906,796)  | (59,664)        | (5,966,460) 
|                                                   |              |                 |             
|Partners capital 
 (deficit),
  September 30, 2000 | $85,781,154  | $(1,042,272)    | $84,738,882 
|                                                   |              |                 |             

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF CHANGES IN PARTNERS CAPITAL
Six Months Ended September 30,    
(Unaudited)



|                                                  | Assignees    | General
Partner | Total       
|------------------------------------------------- | ------------ | --------------- | ------------
|Series 15                                         |              |                 |             
|Partners Capital 
 (deficit)
  April 1, 2000      | $ 10,327,926 | $  (231,709)    | $ 10,096,217
|                                                  |              |                 |             
|                                                  |              |                 |             
|Net income (loss)                                 | (1,114,686)  | (11,259)        | (1,125,945) 
|                                                  |              |                 |             
|Partners capital 
 (deficit)
  September 30, 2000 | $9,213,240   | $(242,968)      | $8,970,272  
|                                                  |              |                 |             
|                                                  |              |                 |             
|Series 16                                         |              |                 |             
|Partners Capital 
 (deficit)
  April 1, 2000      | $ 22,390,069 | $  (245,160)    | $ 22,144,909
|                                                  |              |                 |             
|                                                  |              |                 |             
|Net income (loss)                                 | (1,835,095)  | (18,536)        | (1,853,631) 
|                                                  |              |                 |             
|Partners capital 
 (deficit)
  September 30, 2000 | $20,554,974  | $(263,696)      | $20,291,278 
|                                                  |              |                 |             

The accompanying notes are an integral part of these statements.

Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF CHANGES IN PARTNERS CAPITAL
Six Months Ended September 30,     
(Unaudited)



|                                                   | Assignees    | General
Partner | Total       
|-------------------------------------------------- | ------------ | --------------- | ------------
|Series 17                                          |              |                 |             
|Partners Capital 
 (deficit)
  April 1, 2000       | $ 20,646,624 | $  (225,468)    | $ 20,421,156
|                                                   |              |                 |             
|                                                   |              |                 |             
|Net income (loss)                                  | (1,135,814)  | (11,473)        | (1,147,287) 
|                                                   |              |                 |             
|Partners capital 
 (deficit)
  September 30, 2000  | $19,510,810  | $(236,941)      | $19,273,869 
|                                                   |              |                 |             
|                                                   |              |                 |             
|Series 18                                          |              |                 |             
|Partners Capital 
 (deficit)
  April 1, 2000       | $ 15,921,798 | $  (152,535)    | $ 15,769,263
|                                                   |              |                 |             
|                                                   |              |                 |             
|Net income (loss)                                  | (935,307)    | (9,448)         | (944,755)   
|                                                   |              |                 |             
|Partners capital 
 (deficit),
  September 30, 2000 | $14,986,491  | $(161,983)      | $14,824,508 
|                                                   |              |                 |             

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF CHANGES IN PARTNERS CAPITAL
Six Months Ended September 30,
(Unaudited)



|                                                   | Assignees    | General
Partner | Total       
|-------------------------------------------------- | ------------ | --------------- | ------------
|Series 19                                          |              |                 |             
|Partners Capital 
 (deficit)
  April 1, 2000       | $ 22,401,533 | $  (127,736)    | $ 22,273,797
|                                                   |              |                 |             
|                                                   |              |                 |             
|Net income (loss)                                  | (885,894)    | (8,948)         | (894,842)   
|                                                   |              |                 |             
|Partners capital 
 (deficit),
  September 30, 2000 | $21,515,639  | $(136,684)      | $21,378,955 
|                                                   |              |                 |             

The accompanying notes are an integral part of this statement



Boston Capital Tax Credit Fund III L.P.STATEMENTS OF CASH FLOWSSix Months Ended September 30,
(Unaudited)



|                                                                     | 2000         | 1999        
|-------------------------------------------------------------------- | ------------ | ------------
|Cash Flows from operating activities:                                |              |             
|                                                                     |              |             
|Net Loss                                                             | $(5,966,460) | $(6,890,204)
|Adjustments                                                          |              |             
|Distributions from Operating
        Partnerships                    | 21,775       | 37,616      
|Amortization                                                         | 34,448       | 34,618      
|Share of Loss from Operating
        Partnerships                    | 4,614,002    | 5,545,739   
|Changes in assets and liabilities                                    |              |             
|(Decrease) Increase in accounts
        payable and accrued expenses | (2)          | 4,490       
|Decrease (Increase) in accounts
        Receivable                   | (81,109)     | (306,694)   
|Decrease (Increase) in accounts
        Payable affiliates           | 1,331,586    | 1,594,302   
|                                                                     |              |             
|Net cash (used in) provided by 
        Operating activities         | (45,760)     | 19,867      
|                                                                     |              |             
|                                                                     |              |             
|Cash Flows from investing activities:                                |              |             
|                                                                     |              |             
|Capital contributions paid to 
     Operating Partnerships           | (10,000)     | (2,500)     
|Advances in Operating Partnerships                                   | 54,340       | -           
|Investments                                                          | (35,334)     | 115,509     
|                                                                     |              |             
|Net cash (used in) provided by
     investing activities             | 9,006        | 113,009     

The accompanying notes are an integral part of this statement



Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)



|                                                           | 2000       | 1999      
|---------------------------------------------------------- | ---------- | ----------
|                                                           |            |           
|Continued                                                  |            |           
|                                                           |            |           
|Cash flows from financing activity:                        |            |           
|                                                           |            |           
|Credit adjusters received from
     Operating Partnerships | -          | -         
|                                                           |            |           
|Net cash (used in)provided by
        financing activity   | -          | -         
|                                                           |            |           
|                                                           |            |           
|INCREASE (DECREASE) IN CASH AND
        CASH EQUIVALENTS   | (36,754)   | 132,876   
|                                                           |            |           
|Cash and cash equivalents, beginning                       | 1,754,063  | 1,693,799 
|                                                           |            |           
|Cash and cash equivalents, ending                          | $1,717,309 | $1,826,675
|                                                           |            |           

The accompanying notes are an integral part of this statement



Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)Series 15



|                                                                     | 2000         | 1999         
|-------------------------------------------------------------------- | ------------ | -------------
|Cash Flows from operating activities:                                |              |              
|                                                                     |              |              
|Net Loss                                                             | $(1,125,945) | $ (1,185,794)
|Adjustments                                                          |              |              
|Distributions from Operating
        Partnerships                    | 12           | 882          
|Amortization                                                         | 5,256        | 5,256        
|Share of Loss from Operating
        Partnerships                    | 842,603      | 905,022      
|Changes in assets and liabilities                                    |              |              
|(Decrease) Increase in accounts
        payable and accrued expenses | -            | 783          
|Decrease (Increase) in accounts
        Receivable                   | 3,138        | (30,716)     
|Decrease (Increase) in accounts
        payable affiliates           | 274,026      | 294,603      
|                                                                     |              |              
|Net cash (used in) provided by 
        operating activities         | (910)        | (9,964)      
|                                                                     |              |              
|                                                                     |              |              
|Cash Flows from investing activities:                                |              |              
|                                                                     |              |              
|Capital contributions paid to 
     Operating Partnerships           | -            | -            
|Advances in Operating Partnerships                                   | 32,170       | -            
|Investments                                                          | (6,771)      | (7,139)      
|                                                                     |              |              
|Net cash (used in) provided by
     investing activities             | 25,399       | (7,139)      

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30, 
(Unaudited)Series 15



|                                                           | 2000     | 1999    
|---------------------------------------------------------- | -------- | --------
|                                                           |          |         
|Continued                                                  |          |         
|                                                           |          |         
|Cash flows from financing activity:                        |          |         
|                                                           |          |         
|Credit adjusters received from
     Operating Partnerships | -        | -       
|                                                           |          |         
|Net cash (used in)provided by
        financing activity   | -        | -       
|                                                           |          |         
|                                                           |          |         
|INCREASE (DECREASE) IN CASH AND
        CASH EQUIVALENTS   | 24,489   | (17,103)
|                                                           |          |         
|Cash and cash equivalents, beginning                       | 308,497  | 306,884 
|                                                           |          |         
|Cash and cash equivalents, ending                          | $332,986 | $289,781
|                                                           |          |         

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)Series 16



|                                                                     | 2000         | 1999        
|-------------------------------------------------------------------- | ------------ | ------------
|Cash Flows from operating activities:                                |              |             
|                                                                     |              |             
|Net Loss                                                             | $(1,853,631) | $(2,122,768)
|Adjustments                                                          |              |             
|Distributions from Operating
        Partnerships                    | 4,830        | 25          
|Amortization                                                         | 8,425        | 8,425       
|Share of Loss from Operating
        Partnerships                    | 1,493,347    | 1,758,599   
|Changes in assets and liabilities                                    |              |             
|(Decrease) Increase in accounts
        payable and accrued expenses | -            | 1,164       
|Decrease (Increase) in accounts
        Receivable                   | (3,751)      | (12,817)    
|Decrease (Increase) in accounts
        payable affiliates           | 345,989      | 345,990     
|                                                                     |              |             
|Net cash (used in) provided by
        operating activities          | (4,791)      | (21,382)    
|                                                                     |              |             
|                                                                     |              |             
|Cash Flows from investing activities:                                |              |             
|                                                                     |              |             
|Capital contributions paid to 
     Operating Partnerships           | -            | (2,500)     
|Advances in Operating Partnerships                                   | -            | -           
|Investments                                                          | (13,643)     | (9,618)     
|                                                                     |              |             
|Net cash (used in) provided by
     investing activities             | (13,643)     | (12,118)    

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)Series 16



|                                                           | 2000     | 1999    
|---------------------------------------------------------- | -------- | --------
|                                                           |          |         
|Continued                                                  |          |         
|                                                           |          |         
|Cash flows from financing activity:                        |          |         
|                                                           |          |         
|Credit adjusters received from
     Operating Partnerships | -        | -       
|                                                           |          |         
|Net cash (used in)provided by
        financing activity   | -        | -       
|                                                           |          |         
|                                                           |          |         
|INCREASE (DECREASE) IN CASH AND
        CASH EQUIVALENTS   | (18,434) | (33,500)
|                                                           |          |         
|Cash and cash equivalents, beginning                       | 307,415  | 213,451 
|                                                           |          |         
|Cash and cash equivalents, ending                          | $288,981 | $179,951
|                                                           |          |         

The accompanying notes are an integral part of this statement



Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)Series 17



|                                                                     | 2000           | 1999        
|-------------------------------------------------------------------- | -------------- | ------------
|Cash Flows from operating activities:                                |                |             
|                                                                     |                |             
|Net Loss                                                             | $  (1,147,287) | $(1,531,610)
|Adjustments                                                          |                |             
|Distributions from Operating
        Partnerships                    | 1,200          | 4,139       
|Amortization                                                         | 7,775          | 7,775       
|Share of Loss from Operating
        Partnerships                    | 857,964        | 1,230,720   
|Changes in assets and liabilities                                    |                |             
|(Decrease) Increase in accounts
        payable and accrued expenses | -              | 928         
|(Decrease) Increase in accounts
        receivable                   | (45,465)       | (267,071)   
|Decrease (Increase) in accounts
        payable affiliates           | 314,923        | 557,060     
|                                                                     |                |             
|Net cash (used in) provided by 
        operating activities         | (10,890)       | 1,941       
|                                                                     |                |             
|                                                                     |                |             
|Cash Flows from investing activities:                                |                |             
|                                                                     |                |             
|Capital contributions paid to 
     Operating Partnerships           | -              | -           
|Advances in Operating Partnerships                                   | 22,170         | -           
|Investments                                                          | -              | 100,000     
|                                                                     |                |             
|Net cash (used in) provided by
     Investing activities             | 22,170         | 100,000     

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)Series 17



|                                                           | 2000     | 1999    
|---------------------------------------------------------- | -------- | --------
|                                                           |          |         
|Continued                                                  |          |         
|                                                           |          |         
|Cash flows from financing activity:                        |          |         
|                                                           |          |         
|Credit adjusters received from
     Operating Partnerships | -        | -       
|                                                           |          |         
|Net cash (used in)provided by
        financing activity   | -        | -       
|                                                           |          |         
|                                                           |          |         
|INCREASE (DECREASE) IN CASH AND
        CASH EQUIVALENTS   | 11,280   | 101,941 
|                                                           |          |         
|Cash and cash equivalents, beginning                       | 404,005  | 349,189 
|                                                           |          |         
|Cash and cash equivalents, ending                          | $415,285 | $451,130
|                                                           |          |         

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)Series 18



|                                                                     | 2000        | 1999        
|-------------------------------------------------------------------- | ----------- | ------------
|Cash Flows from operating activities:                                |             |             
|                                                                     |             |             
|Net Loss                                                             | $ (944,755) | $(1,013,297)
|Adjustments                                                          |             |             
|Distributions from Operating
        Partnerships                    | 15,654      | 1,130       
|Amortization                                                         | 5,707       | 5,707       
|Share of Loss from Operating
        Partnerships                    | 748,344     | 815,220     
|Changes in assets and liabilities                                    |             |             
|(Decrease) Increase in accounts
        payable and accrued expenses | -           | 856         
|Decrease (Increase) in accounts
        Receivable                   | (27,590)    | (4,930)     
|Decrease (Increase) in accounts
        payable affiliates           | 190,974     | 190,974     
|                                                                     |             |             
|Net cash (used in) provided by 
        operating activities         | (11,666)    | (4,340)     
|                                                                     |             |             
|                                                                     |             |             
|Cash Flows from investing activities:                                |             |             
|                                                                     |             |             
|Capital contributions paid to 
     Operating Partnerships           | -           | -           
|Advances in Operating Partnerships                                   | -           | -           
|Investments                                                          | (5,053)     | (2,771)     
|                                                                     |             |             
|Net cash (used in) provided by
     investing activities             | (5,053)     | (2,771)     

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF CASH FLOWS

Six Months Ended September 30,
(Unaudited)Series 18





|                                                           | 2000     | 1999    
|---------------------------------------------------------- | -------- | --------
|                                                           |          |         
|Continued                                                  |          |         
|                                                           |          |         
|Cash flows from financing activity:                        |          |         
|                                                           |          |         
|Credit adjusters received from
     Operating Partnerships | -        | -       
|                                                           |          |         
|Net cash (used in)provided by
        financing activity   | -        | -       
|                                                           |          |         
|                                                           |          |         
|INCREASE (DECREASE) IN CASH AND
        CASH EQUIVALENTS   | (16,719) | (7,111) 
|                                                           |          |         
|Cash and cash equivalents, beginning                       | 377,094  | 306,065 
|                                                           |          |         
|Cash and cash equivalents, ending                          | $360,375 | $298,954
|                                                           |          |         

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)Series 19



|                                                                     | 2000        | 1999        
|-------------------------------------------------------------------- | ----------- | ------------
|Cash Flows from operating activities:                                |             |             
|                                                                     |             |             
|Net Loss                                                             | $ (894,842) | $(1,036,735)
|Adjustments                                                          |             |             
|Distributions from Operating
        Partnerships                    | 79          | 31,440      
|Amortization                                                         | 7,285       | 7,455       
|Share of Loss from Operating
        Partnerships                    | 671,744     | 836,178     
|Changes in assets and liabilities                                    |             |             
|(Decrease) Increase in accounts
        payable and accrued expenses | (2)         | 759         
|(Decrease) Increase in accounts
        receivable/ other assets     | (7,441)     | 8,840       
|Decrease (Increase) in accounts
        payable affiliates           | 205,674     | 205,675     
|                                                                     |             |             
|Net cash (used in) provided by 
        operating activities         | (17,503)    | 53,612      
|                                                                     |             |             
|                                                                     |             |             
|Cash Flows from investing activities:                                |             |             
|                                                                     |             |             
|Capital contributions paid to 
     Operating Partnerships           | (10,000)    | -           
|Advances in Operating Partnerships                                   | -           | -           
|Investments                                                          | (9,867)     | 35,037      
|                                                                     |             |             
|Net cash (used in) provided by
     investing activities             | (19,867)    | 35,037      

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund III L.P.
STATEMENTS OF CASH FLOWS
Six Months Ended September 30,
(Unaudited)Series 19

|                                                           | 2000     | 1999    
|---------------------------------------------------------- | -------- | --------
|                                                           |          |         
|Continued                                                  |          |         
|                                                           |          |         
|Cash flows from financing activity:                        |          |         
|                                                           |          |         
|Credit adjusters received from
     Operating Partnerships | -        | -       
|                                                           |          |         
|Net cash (used in)provided by
        financing activity   | -        | -       
|                                                           |          |         
|                                                           |          |         
|INCREASE (DECREASE) IN CASH AND
        CASH EQUIVALENTS   | (37,370) | 88,649  
|                                                           |          |         
|Cash and cash equivalents, beginning                       | 357,052  | 518,210 
|                                                           |          |         
|Cash and cash equivalents, ending                          | $319,682 | $606,859
|                                                           |          |         

The accompanying notes are an integral part of this statement

Boston Capital Tax Credit Fund III L.P.

NOTES TO FINANCIAL STATEMENTS
September 30, 2000

(Unaudited)



NOTE A - ORGANIZATIONBoston Capital Tax Credit Fund III L.P. (the "Fund") was formed under the laws of the State of Delaware as of September 19, 1991 for the purpose of
acquiring, holding, and disposing of limited partnership interests in
Operating Partnerships which will acquire, develop, rehabilitate, operate and
own newly constructed, existing or rehabilitated low-income apartment
complexes ("Operating Partnerships"). The general partner of the Fund is
Boston Capital Associates III L.P., a Delaware limited partnership.  Boston
Capital Associates, a Massachusetts general partnership, whose only two
partners are Herbert F. Collins and John P. Manning, the principals of Boston
Capital Partners, Inc., is the sole general partner of the general partner. 
The limited partner of the general partner is Capital Investment Holdings, a
general partnership whose partners are certain officers and employees of
Boston Capital Partners, Inc., and its affiliates.  The Assignor Limited
Partner is BCTC III Assignor Corp., a Delaware corporation which is
wholly-owned by Herbert F. Collins and John P. Manning.
Pursuant to the Securities Act of 1933, the Fund filed a Form S-11
Registration Statement with the Securities and Exchange Commission, effective
January 24, 1992 which covered the offering (the "Public Offering") of the
Fund's beneficial assignee certificates ("BACs") representing assignments of
units of the beneficial interest of the limited partnership interest of the
Assignor Limited Partner.  The Fund registered 20,000,000 BACs at $10 per BAC
for sale to the public in one or more series.  On September 4, 1993 the Fund
filed an amendment to Form S-11 with the Securities and Exchange Commission
which registered an additional 2,000,000 BACs at $10 per BAC for sale to the
public in one or more series. The registration for the additional BACs became
effective on October 6, 1993. Offers and sales of BACs in Series 15 through 19
of the Fund were completed and the last of the BACs in Series 15, 16, 17, 18
and 19 were issued by the Fund on June 26, 1992, December 28, 1992, June 17,
1993, September 22, 1993, and December 17, 1993, respectively.  The Fund sold
3,870,500 of Series 15 BACs, for a total of $38,705,000; 5,429,402 of Series
16 BACs, for a total of $54,293,000; 5,000,000 of Series 17 BACs, for a total
of $50,000,000; 3,616,200 of Series 18 BACs, for a total of $36,162,000; and
4,080,000 of Series 19 BACs, for a total of $40,800,000.  The Fund issued the
last BACs in Series 19 on December 17, 1993.  This concluded the Public
offering of the Fund.



Boston Capital Tax Credit Fund III L.P.
NOTES TO FINANCIAL STATEMENTS - CONTINUED
September 30, 2000
(Unaudited)

NOTE B - ACCOUNTING AND FINANCIAL REPORTING POLICIES

The condensed financial statements included herein as of September 30, 2000 and for the three months then ended have been prepared by the Fund, without
audit.  The Fund accounts for its investments in Operating Partnerships using
the equity method, whereby the Fund adjusts its investment cost for its share
of each Operating Partnership's results of operations and for any
distributions received or accrued.  Costs incurred by the Fund in acquiring
the investments in the Operating Partnerships are capitalized to the
investment account.  The Fund's accounting and financial reporting policies
are in conformity with generally accepted accounting principles and include
adjustments in  interim periods considered necessary for a fair presentation
of the results of operations.  Such adjustments are of a normal recurring
nature.

Investment

The Fund has included in investments Certificates of Deposit with original
materities of one year or less.  These investments are carried at costs.



Boston Capital Tax Credit Fund III L.P.
NOTES TO FINANCIAL STATEMENTS - CONTINUED
September 30, 2000
(Unaudited)

NOTE - B ACCOUNTING AND FINANCIAL REPORTING POLICIES - CONTINUED

Amortized cost is the face value of the securities and any unamortized premium
or discount.  The balance sheet reflects the fair market value under
investments.

Amortization

On July 1, 1995, the Fund began amortizing unallocated acquisition
costs over 330 months from April 1, 1995. As of September 30, 2000 the Fund has accumulated unallocated acquisition amortization totaling $384,437.  The
breakdown of accumulated unallocated acquisition amortization within the fund
as of September 30, 2000 and 1999 is as follows:



|          | 2000     | 1999    
|--------- | -------- | --------
|          |          |         
|Series 15 | $ 57,914 | $ 47,402
|Series 16 | 92,683   | 75,833  
|Series 17 | 93,428   | 77,878  
|Series 18 | 62,903   | 51,490  
|Series 19 | 77,509   | 62,939  
|          | $384,437 | $315,542



NOTE C - RELATED PARTY TRANSACTIONS

The Fund has entered into several transactions with various affiliates
of the general partner, including Boston Capital Partners, Inc., and Boston
Capital Asset Management Limited Partnership as follows:

Boston Capital Partners, Inc. is entitled to asset acquisition fees for
selecting, evaluating, structuring, negotiating, and closing the Funds
acquisition of interests in the Operating Partnerships.   Prior to the quarter
ended September 30, 2000 all series had completed payment of all acquisition fees due to Boston Capital Partners, Inc.



Boston Capital Tax Credit Fund III L.P.
NOTES TO FINANCIAL STATEMENTS - CONTINUED
September 30, 2000
(Unaudited)

NOTE C - RELATED PARTY TRANSACTIONS - CONTINUED

An annual fund management fee based on .5 percent of the aggregate cost
of all apartment complexes owned by the Operating Partnerships, has been
accrued to Boston Capital Asset Management Limited Partnership.  The fund
management fees accrued for the quarter ended September 30, 2000 and 1999 are as follows:



|          | 2000     | 1999    
|--------- | -------- | --------
|          |          |         
|Series 15 | $137,013 | $137,013
|Series 16 | 172,995  | 172,995 
|Series 17 | 140,925  | 141,342 
|Series 18 | 95,487   | 95,487  
|Series 19 | 102,837  | 102,837 
|          | $649,257 | $649,674

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS

At September 30, 2000 and 1999, the Fund had limited partnership interests in 241 Operating Partnerships which own or are constructing apartment complexes.  The breakdown of Operating Partnerships within the Fund at September 30, 2000 and
1999 is as follows:





|          |    
|--------- | ---
|Series 15 | 68 
|Series 16 | 64 
|Series 17 | 49 
|Series 18 | 34 
|Series 19 | 26 
|          | 241

















Boston Capital Tax Credit Fund III L.P.
NOTES TO FINANCIAL STATEMENTS - CONTINUED
September 30, 2000
(Unaudited)
NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS - CONTINUED

Under the terms of the Fund's investment in each Operating Partnership,
the Fund is required to make capital contributions to the Operating
Partnerships.  These contributions are payable in installments over several
years upon each Operating Partnership achieving specified levels of
construction and/or operations.  The contributions payable at September 30, 2000 and 1999 are as follows:



|          | 2000       | 1999      
|--------- | ---------- | ----------
|          |            |           
|Series 15 | $   32,922 | $   32,922
|Series 16 | 140,006    | 140,006   
|Series 17 | 1,206,768  | 1,367,195 
|Series 18 | 18,554     | 18,554    
|Series 19 | 24,000     | 34,000    
|          | $1,422,250 | $1,592,677



The Funds fiscal year ends March 31st of each year, while all the Operating
Partnerships' fiscal years are the calendar year.  Pursuant to the provisions
of each Operating Partnership Agreement, financial results for each of the
Operating Partnerships are provided to the Fund within 45 days after the close
of each Operating Partnerships quarterly period.  Accordingly, the current
financial results available for the Operating Partnerships are for the six
months ended June 30, 2000.



Boston Capital Tax Credit Fund III L.P.

NOTES TO FINANCIAL STATEMENTS
September 30, 2000
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30, 
(Unaudited)

Series 15



|                                                                        | 2000         | 1999        
|----------------------------------------------------------------------- | ------------ | ------------
|                                                                        |              |             
|Revenues                                                                |              |             
|Rental                                                                  | $  4,981,202 | $  4,867,033
|Interest and other                                                      | 186,280      | 169,245     
|                                                                        |              |             
|                                                                        | 5,167,482    | 5,036,278   
|                                                                        |              |             
|Expenses                                                                |              |             
|Interest                                                                | 1,405,186    | 1,381,481   
|Depreciation and amortization                                           | 1,793,633    | 1,901,685   
|Operating expenses                                                      | 3,250,569    | 3,041,468   
|                                                                        | 6,449,388    | 6,324,634   
|                                                                        |              |             
|NET LOSS                                                                | $(1,281,906) | $(1,288,356)
|                                                                        |              |             
|Net loss allocation to Boston  
   Capital Tax Credit Fund 
   III L.P. | $(842,603)   | $(905,022)  
|                                                                        |              |             
|                                                                        |              |             
|Net loss allocated to other 
   Partners                                | $(12,819)    | $(12,884)   
|                                                                        |              |             
|Net loss suspended                                                      | $(426,484)   | $(370,450)  







The Partnership accounts for its investments using the equity method of
accounting.  Under the equity method of accounting, the Partnership adjusts
its investment cost for its share of each Operating Partnerships results of
operations and for any distributions received or accrued.  However, the
Partnership recognizes individual operating losses only to the extent of
capital contributions.  Excess losses are suspended for use in future years to
offset excess income.



Boston Capital Tax Credit Fund III L.P.

NOTES TO FINANCIAL STATEMENTS
September 30, 2000
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)

Series 16



|                                                                        | 2000         | 1999        
|----------------------------------------------------------------------- | ------------ | ------------
|                                                                        |              |             
|Revenues                                                                |              |             
|Rental                                                                  | $  6,716,959 | $  6,136,645
|Interest and other                                                      | 298,631      | 312,806     
|                                                                        |              |             
|                                                                        | 7,015,590    | 6,449,451   
|                                                                        |              |             
|Expenses                                                                |              |             
|Interest                                                                | 1,896,381    | 1,965,497   
|Depreciation and amortization                                           | 2,476,924    | 2,391,922   
|Operating expenses                                                      | 4,361,258    | 4,112,999   
|                                                                        | 8,734,563    | 8,470,418   
|                                                                        |              |             
|NET LOSS                                                                | $(1,718,973) | $(2,020,967)
|                                                                        |              |             
|Net loss allocation to Boston  
   Capital Tax Credit Fund 
   III L.P. | $(1,493,347) | $(1,758,599)
|                                                                        |              |             
|                                                                        |              |             
|Net loss allocated to other 
   Partners                                | $(17,190)    | $(20,210)   
|                                                                        |              |             
|Net loss suspended                                                      | $(208,436)   | $(242,158)  







The Partnership accounts for its investments using the equity method of
accounting.  Under the equity method of accounting, the Partnership adjusts
its investment cost for its share of each Operating Partnerships results of
operations and for any distributions received or accrued.  However, the
Partnership recognizes individual operating losses only to the extent of
capital contributions.  Excess losses are suspended for use in future years to
offset excess income.



Boston Capital Tax Credit Fund III L.P.

NOTES TO FINANCIAL STATEMENTS
September 30, 2000
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)

Series 17

|                                                                        | 2000         | 1999        
|----------------------------------------------------------------------- | ------------ | ------------
|                                                                        |              |             
|Revenues                                                                |              |             
|Rental                                                                  | $  5,885,099 | $  5,449,718
|Interest and other                                                      | 219,957      | 215,841     
|                                                                        |              |             
|                                                                        | 6,105,056    | 5,665,559   
|                                                                        |              |             
|Expenses                                                                |              |             
|Interest                                                                | 1,837,794    | 1,821,772   
|Depreciation and amortization                                           | 1,850,823    | 1,922,826   
|Operating expenses                                                      | 3,407,855    | 3,164,113   
|                                                                        | 7,096,472    | 6,908,711   
|                                                                        |              |             
|NET LOSS                                                                | $(991,416)   | $(1,243,152)
|                                                                        |              |             
|Net loss allocation to Boston  
   Capital Tax Credit Fund 
   III L.P. | $(857,964)   | $(1,230,720)
|                                                                        |              |             
|                                                                        |              |             
|Net loss allocated to other 
   Partners                                | $(9,914)     | $(12,432)   
|                                                                        |              |             
|Net loss suspended                                                      | $(123,538)   | $-          







The Partnership accounts for its investments using the equity method of
accounting.  Under the equity method of accounting, the Partnership adjusts
its investment cost for its share of each Operating Partnerships results of
operations and for any distributions received or accrued.  However, the
Partnership recognizes individual operating losses only to the extent of
capital contributions.  Excess losses are suspended for use in future years to offset excess income.



Boston Capital Tax Credit Fund III L.P.

NOTES TO FINANCIAL STATEMENTS
September 30, 2000
(Unaudited)

NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)

COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)

Series 18



|                                                                        | 2000         | 1999        
|----------------------------------------------------------------------- | ------------ | ------------
|                                                                        |              |             
|Revenues                                                                |              |             
|Rental                                                                  | $  3,329,953 | $  3,222,312
|Interest and other                                                      | 195,964      | 173,696     
|                                                                        |              |             
|                                                                        | 3,525,917    | 3,396,008   
|                                                                        |              |             
|Expenses                                                                |              |             
|Interest                                                                | 949,620      | 1,053,685   
|Depreciation and amortization                                           | 1,259,597    | 1,285,615   
|Operating expenses                                                      | 2,103,943    | 1,908,227   
|                                                                        | 4,313,160    | 4,247,527   
|                                                                        |              |             
|NET LOSS                                                                | $(787,243)   | $(851,519)  
|                                                                        |              |             
|Net loss allocation to Boston  
   Capital Tax Credit Fund 
   III L.P. | $(748,344)   | $(815,220)  
|                                                                        |              |             
|                                                                        |              |             
|Net loss allocated to other 
   Partners                                | $(7,872)     | $(8,515)    
|                                                                        |              |             
|Net loss suspended                                                      | $(31,026)    | $(27,784)   







The Partnership accounts for its investments using the equity method of
accounting.  Under the equity method of accounting, the Partnership adjusts
its investment cost for its share of each Operating Partnerships results of
operations and for any distributions received or accrued.  However, the
Partnership recognizes individual operating losses only to the extent of
capital contributions.  Excess losses are suspended for use in future years to
offset excess income.



Boston Capital Tax Credit Fund III L.P.

NOTES TO FINANCIAL STATEMENTS
September 30, 2000
(Unaudited)
NOTE D - INVESTMENTS IN OPERATING PARTNERSHIPS (continued)
COMBINED SUMMARIZED STATEMENTS OF OPERATIONS
Six months ended June 30,
(Unaudited)

Series 19

|                                                                   | 2000         | 1999        
|------------------------------------------------------------------ | ------------ | ------------
|                                                                   |              |             
|Revenues                                                           |              |             
|Rental                                                             | $  4,738,188 | $  4,517,530
|Interest and other                                                 | 138,529      | 160,447     
|                                                                   |              |             
|                                                                   | 4,876,717    | 4,677,977   
|                                                                   |              |             
|Expenses                                                           |              |             
|Interest                                                           | 1,617,009    | 1,672,668   
|Depreciation and amortization                                      | 1,465,822    | 1,449,178   
|Operating expenses                                                 | 2,487,713    | 2,400,755   
|                                                                   | 5,570,544    | 5,522,601   
|                                                                   |              |             
|NET LOSS                                                           | $(693,827)   | $(844,624)  
|                                                                   |              |             
|Net loss allocation to Boston
Capital Tax Credit Fund 
   III L.P. | $(671,744)   | $(836,178)  
|                                                                   |              |             
|                                                                   |              |             
|Net loss allocated to other 
   Partners                           | $(6,938)     | $(8,446)    
|                                                                   |              |             
|Net loss suspended                                                 | $(15,145)    | $-          







The Partnership accounts for its investments using the equity method of
accounting.  Under the equity method of accounting, the Partnership adjusts
its investment cost for its share of each Operating Partnerships results of
operations and for any distributions received or accrued.  However, the
Partnership recognizes individual operating losses only to the extent of
capital contributions.  Excess losses are suspended for use in future years to
offset excess income.



Boston Capital Tax Credit Fund III L.P.

NOTES TO FINANCIAL STATEMENTS
September 30, 2000
(Unaudited)

NOTE E - TAXABLE LOSS
      The Fund's taxable loss for the year ended March 31, 2001 is expected to
differ from its loss for financial reporting purposes.  This is primarily due
to accounting differences in depreciation incurred by the Operating
Partnerships and also differences between the equity method of accounting and
the IRS accounting methods.  No provision or benefit for income taxes has been
included in these financial statements since taxable income or loss passes
through to, and is reportable by, the partners and assignees individually

Item 2.  Management's Discussions and Analysis of Financial Condition and
Results of Operations

Liquidity

The Funds primary source of funds is the proceeds of its Public
Offering.  Other sources of liquidity will include (i) interest earned on
capital contributions held pending investment and on Working Capital Reserves
and (ii) cash distributions from operations of the operating Partnerships in
which the Fund has and will invest.  Interest income is expected to decrease
over the life of the Fund as capital contributions are paid to the Operating
Partnerships and Working Capital Reserves are expended.    The Fund does not
anticipate significant cash distributions from operations of the Operating
Partnerships.

The Fund is currently accruing the fund management fee.  Fund management
fees accrued during the quarter ended September 30, 2000 were $649,257 and total fund management fees accrued as of September 30, 2000 were $13,499,510.  Pursuant to the Partnership Agreement, such liabilities will be deferred until the Fund receives
sales of refinancing proceeds from Operating Partnerships which will be used to satisfy such liabilities.  The Funds working capital and sources of liquidity coupled with affiliated party liability accruals allow sufficient levels of liquidity
to meet the third party obligations of the Fund.   The Fund is currently unaware of any trends which would create insufficient liquidity to meet future third party obligations of the Fund.

The Fund has recorded an additional $1,206,223 as payable to affiliates.  This represents fundings to make advances and/or loans to certain Operating
Partnerships in Series 15 and Series 17 of the Fund of $277,567 and $928,656 respectively.

Capital Resources

The Fund offered BACs in a Public Offering declared effective by the
Securities and Exchange Commission on January 24, 1992.  The Fund received
$38,705,000, $54,293,000, $50,000,000, $36,162,000 and $40,800,000
representing 3,870,500, 5,429,402, 5,000,000, 3,616,200 and 4,080,000 BACs
from investors admitted as BAC Holders in Series 15, Series 16, Series 17,
Series 18, and Series 19, respectively.  The Public Offering was completed on
December 17, 1993.

(Series 15)  The Fund commenced offering BACs in Series 15 on January 24,
1992.  Offers and sales of BACs in Series 15 were completed on June 26,
1992.  The Fund has committed proceeds to pay initial and additional
installments of capital contributions to 68 Operating Partnerships in the
amount of $28,257,701.

During the quarter ended September 30, 2000, none of Series 15 net offering proceeds had been used to pay capital contributions. Series 15 net offering proceeds in the amount of $32,922 remain to be used by the Fund to pay remaining capital
contributions to the Operating Partnerships that  Series 15 has invested in as of September 30, 2000.

(Series 16)  The Fund commenced offering BACs in Series 16 on July 13, 1992.
Offers and sales of BACs in Series 16 were completed on December 28, 1992. The
Fund has committed proceeds to pay initial and additional installments of
capital contributions to 64 Operating Partnerships in the amount of
$39,579,774.

During the quarter ended September 30, 2000, none of Series 16 net offering proceeds had been used to pay capital contributions.  Series 16 net offering proceeds in the amount of $140,006 remain to be used by the
Fund to pay remaining capital contributions to the Operating Partnerships that Series 16 has invested in as of September 30, 2000.

(Series 17)  The Fund commenced offering BACs in Series 17 on January 24,
1993.  Offers and sales of BACs in Series 17 were completed on June 17, 1993.
The Fund has committed proceeds to pay initial and additional installments of
capital contributions to 49 Operating Partnerships in the amount of
$36,538,204.

During the quarter ended September 30, 2000, none of Series 17 net offering proceeds had been used to pay capital contributions.  Series 17 net offering proceeds in the amount of $415,285 remain to be used by the
Fund to pay remaining capital contributions to the Operating Partnerships that Series 17 has invested in as of September 30, 2000.

(Series 18)  The Fund commenced offering BACs in Series 18 on June 17, 1993.
Offers and sales of BACs in Series 18 were completed on September 22, 1993.
The Fund has committed proceeds to pay initial and additional installments of
capital contributions to 34 operating Partnerships in the amount of
$26,442,202.

During the quarter ended September 30, 2000, none of Series 18 net offering proceeds had been used to pay capital contributions.  Series 18 net offering proceeds in the amount of $18,554 remain to be used by the Fund to pay remaining capital
contributions to the Operating Partnerships that Series 18 has invested in as of September 30, 2000.

(Series 19).  The Fund commenced offering BACs in Series 19 on October 8,
1993.  Offers and sales of BACs in Series 19 were completed on December 17,
1993.  The Fund has committed proceeds to pay initial and additional
installments of capital contributions to 26 Operating Partnerships in the
amount of $29,614,506.

During the quarter ended September 30, 2000, $10,000 of Series 19 net offering proceeds had been used to pay capital contributions.  Series 19 net offering proceeds in the amount of $24,000 remain to be used by the Fund to pay remaining
capital contributions to the Operating Partnerships that Series 19 has invested in as of September 30, 2000.

Results of Operations

As of September 30, 2000 and 1999 the Fund held limited partnership interests in 241 Operating Partnerships.  In each instance the Apartment Complex owned by the applicable Operating Partnership is
eligible for the Federal Housing Tax Credit.  Occupancy of a unit in each Apartment Complex which initially complied with the Minimum Set-Aside Test (i.e., occupancy by tenants with incomes equal to no more than a certain percentage of area
median income) and the Rent Restriction Test (i.e., gross rent charged tenants does not exceed 30% of the applicable income standards) is referred to hereinafter as "Qualified Occupancy."  Each of the Operating Partnerships and each of the
respective Apartment Complexes are described more fully in the Prospectus or
applicable report on Form 8-K.  The General Partner believes that there is
adequate casualty insurance on the properties.

The Fund incurred a fund management fee to Boston Capital Asset
Management Limited Partnerships (formerly Boston Capital Communications
Limited Partnership) in an amount equal to .5 percent of the aggregate cost of
the apartment complexes owned by the Operating Partnerships, less the amount
of certain asset management and reporting fees paid by the Operating
Partnerships.  The fund management fees incurred for the quarter ended
September 30, 2000 for Series 15, Series 16, Series 17, Series 18 and Series 19 were $130,963, $170,359, $132,904, $92,487, and $102,837 respectively.

The Funds investment objectives do not include receipt of significant
cash distributions from the Operating Partnerships in which it has invested or
intends to invest.  The Funds investments in Operating Partnerships have been
made principally with a view towards realization of Federal Housing Tax
Credits for allocation to its partners and BAC holders.

(Series 15)  As of September 30, 2000 and 1999, the average qualified 
occupancy for the series was 100% for both years.  The series had a total of 
68 properties at September 30,  2000, all of which were at 100% qualified 
occupancy.

For the six months being reported Series 15 reflects a net loss from
Operating Partnerships of $1,281,906.  When adjusted for depreciation, which is a non-cash item, the Operating Partnerships reflect positive operations of
$511,727.  This is an interim period estimate; it is not necessarily
indicative of the final year end results.

Operations continue to improve at Hidden Cove Apartments (Hidden Cove) as 
evidenced by stabilized occupancy and increased rental collections. To date, 
the property has been able to complete minor capital improvements and fund its 
replacement reserve account without financial assistance.  It is anticipated 
that the property will be able to operate at breakeven, barring any 
significant unforeseen repairs. At this time, the Operating General Partner 
has commenced negotiations with the property's management company aimed at 
transferring the Operating General Partnership interest to that entity.  It is 
anticipated that the addition of a local Operating General Partner will 
enhance the property's ability to refinance its permanent mortgage.

As a result of the new Operating General Partner and property management 
team assuming responsibility for School Street I LP, (School Street Apartments 
- Phase I) and their completion of capital improvements, physical occupancy at 
the property has improved.  As of September 30, 2000 occupancy reached 96%.  
Marshall School Street I, LLC, was inserted as the new Operating General 
Partner in May of 2000.  The property management team has evicted tenants with 
delinquent rents, which resulted in higher maintenance and administrative 
costs than budgeted for 2000.  The improved occupancy and continued aggressive 
marketing of the property should result in improved operations during the 
fourth quarter of 2000 and into 2001.  The Operating General Partner continues 
to fund any operating cash deficits.

(Series 16)  As of September 30, 2000 and 1999, the average qualified 
occupancy for the series was 99.9% and 99.7%,

For the six months being reported Series 16 reflects a net loss from
Operating Partnerships of $1,718,973.  When adjusted for depreciation, which 
is a non-cash item, the Operating Partnerships reflect positive operations of
$757,951.  This is an interim period estimate; it is not necessarily
indicative of the final year end results.

Cass Partners, L.P. (Fitzgerald Apartments) continues to operate below 
breakeven due to low occupancy.  An increasing supply of affordable housing in 
the area with superior amenities has hampered marketing efforts and made 
tenant retention difficult. Average physical occupancy for the first nine 
months of 2000 was 78%, down from an average of 85.4% in 1999.  The Business 
Plan for the year 2000 outlines the following programs to increase occupancy: 
replace the building signage, improve the physical appearance of the 
property's common areas, and negotiate parking agreements with an other 
landlords to alleviate the issue of limited parking.  The Operating General 
Partner continues to support the property financially and is working to 
refinance the partnership's second mortgage, which matures in August 2000.  
The existing mortgage has been extended on a month to month basis while 
negotiations continue regarding the terms of the proposed refinancing.

(Series 17)  As of September 30, 2000 and 1999, the average qualified 
occupancy for the series was 99.7% for both years.  The series had a total of 
49 properties at September 30, 2000.  Out of the total 48 had 100% qualified 
occupancy.

For the six months being reported Series 17 reflects a net loss from
Operating Partnerships of $991,416.  When adjusted for depreciation, which, is
a non-cash item, the Operating Partnerships reflect positive operations of
$859,407. This is an interim period estimate; it is not necessarily indicative
of the final year end results.

Annadale Housing Partners (Kingsview Manor & Estates) reported net 
losses due to operational issues associated with the property.  In order to 
address these issues, the Operating General Partner hired a consultant to 
assist management in aggressively marketing the property.  In addition, the 
management agent hired a new on-site manager and leasing agent.  As a result 
of these changes, occupancy reached 92% as of December 31, 1999, 93.7% as of 
March 31, 2000 and 92.3% as of June 30, 2000.  Occupancy as of September 30, 
2000 fell to 86% as a result of evicting tenants.  Occupancy is expected to 
increase to over 90% by year-end.  In order to reduce operating costs, a loan 
restructure was finalized with the first mortgage lender.  In exchange for 
payment by the Operating General Partner of $620,457, the monthly mortgage 
payments were reduced by 79%, thereby alleviating the property of a large 
monthly cash obligation.  The payment to the first mortgage holder was funded 
through the sale of a portion of the Operating Partnerships future credit 
stream.  With the additional cash available from a lower monthly debt service 
payment and increased rental rates, property operations are anticipated to 
improve significantly over prior years.  As of September 30, 2000, the 
property has been successful in maintaining break-even operations.  The 
Investment General Partner continues to monitor this situation closely.

The property owned by California Investors VI LP (Orchard Park) 
sustained a physical occupancy of 95.1% for the first eight months of 2000. 
This stability has been the result of the management company's aggressive 
marketing efforts and the many capital improvements completed at the property, 
including office renovations and the addition of an activity center.  These 
improvements have been successful in attracting and retaining tenants.  The 
property's surrounding area is experiencing economic growth which includes a 
major public sports park which opened in September of 2000.  The park is 
essentially a complex of ball fields and soccer fields with a central 
concession area.  Drive by traffic has been good since the park opened and is 
expected to increase dramatically once leagues are formed for the children in 
the community.  In addition to the park, a high school is in the process of 
construction.  Work has continued on the new school that will be located 
across the street from the front entrance to the development.  A formal 
groundbreaking has occurred and the construction is in the site preparation 
phase of the development.  These types of public development in the area 
should continue to increase the quantity of automobile traffic around Orchard 
Park and in turn should continue to assist with marketing efforts.  Actually, 
the community has experienced an increased level of interest over the last 
several months from prospective new tenants.  There is now a waiting list for 
units and this has enabled the property management staff to be much more 
aggressive in dealing with the problem tenants.  Negotiations are on going 
with a third party to have them assume General Partner responsibilities and 
management for the partnership and it is hoped that this transition will be 
completed by the end of the year.

Physical occupancy at Palmetto Properties Ltd. (Palmetto Villas) has 
remained at an average of 78% through the third quarter of 2000.  Occupancy at 
the site began to drop early in 1999 due to poor on-site management and 
significant deferred maintenance issues.  As a result, the property management 
company was replaced in January 2000.  However, due to a lack of replacement 
reserve funds to rehabilitate vacant units, occupancy continues to suffer.  In 
addition, the property is in arrears on its real estate tax payments for 1998 
and 1999.  At this time, the Investment General Partner is working with the 
new management company to obtain low interest deferred maintenance loans to 
complete necessary repairs, improve occupancy and cure the tax delinquency.  
The Investment General Partner continues negotiations with the current 
Operating General Partner aimed at removing him from the partnership.  The new 
management company has expressed interest in assuming the role of Operating 
General Partner, and based on the management company's performance to date, 
the partnership would benefit substantially from this arrangement.

(Series 18)  As of September 30, 2000 and 1999 the average qualified occupancy 
for the series was 100% for both years.  The series had a total of 34 
properties at September 30, 2000, out of the total all had 100% qualified 
occupancy.

For the three months being reported Series 18 reflects a net loss from
Operating Partnerships of $787,243.  When adjusted for depreciation, which is
a non-cash item, the Operating Partnerships reflect positive operations of
$472,354.  This is an interim period estimate; it is not necessarily
indicative of the final year end results.

Harris Housing Limited Partnership (Harris Music Lofts) operated with a 
net loss during 1999 primarily as a result of high operating expenses.  The 
Operating General Partner infused cash to fund operating deficits for the 
year.  Operating costs on this property are high particularly in 
administration and maintenance.  In addition to high expenses, the property 
suffers from under-funded tax and insurance and security deposit escrows.  
Despite the occupancy, which averaged at 97.8% during 1999, the property was 
unable to fund these accounts.  Average occupancy for the first eight months 
of 2000 was 98%, a slight increase over the 1999 average.  Unless expenses are 
significantly reduced, the property will continue to operate at a deficit and 
will be unable to fund the shortfall in the required accounts.  It is the 
intention of the Operating General Partner to streamline expenses by sharing 
personnel and bulk ordering of supplies with another property that is only one 
mile away.  However, at this time, the referenced property has not completed 
construction but is anticipated to be complete by year-end.  In addition, 
there was a rent increase effective May 1, 2000 which should generate some 
additional revenue for the property.

Marengo Park Apartments, Limited Partnership is operating below 
breakeven due to low occupancy levels.  Occupancy averaged 76.7% in 1999.  
Occupancy at September 30, 2000 was 83%.  Management has attributed the 
occupancy problem to the local economy.  As a result of weak occupancy, the 
property suffers from underfunded reserves, and a delinquent tax status.  1999 
property taxes in the amount of $21,939 went unpaid, and were vouchered and 
paid by Rural Development.  The Investment General Partner negotiated a 
workout plan with Rural Development which allowed the vouchered taxes to be 
paid with the debt service over the remaining life of the loan, and restated 
the replacement reserve account thereby bringing it current.  Rural 
Development has appproved Special Market Rate rents at the property in order 
to improve occupancy.

Parvin's Limited Partnership (Parvin's Branch Townhomes) continues to 
incur operating deficits due to higher than average operating expenses and 
occupancy issues with its six transitional units.  The Operating General 
Partner and the Management Company have been deferring their respective fees 
to improve the property's cash flow.  In addition, the Operating General 
Partner continues to fund deficits.  The property currently has an occupancy 
rate of 100%.  The management company continues to monitor operating expenses 
and reports that expenses remain stable and within acceptable levels and 
anticipates breakeven operations by year-end 2000.

On March 20, 2000 Glen Place Apartments Limited Partnership(Glen Place 
Apartments) received a 60-Day letter from the IRS stating the Operating 
Partnership had not met certain IRS Section 42 requirements.  The Investment 
Limited Partner was notified of this receipt shortly after the first quarter.  
The IRS has proposed an adjustment that would disallow the Partnership from 
utilizing certain past or future credits.  The Investment General Partner 
indicating the Operating General Partner counsel has filed a written protest 
with the IRS.  The Investment General Partner continues to closely monitor the 
protest process.

(Series 19)  As of September 30, 2000 and 1999 the average qualified occupancy 
for the series was 100% for both years.  The series had a total of 26 
properties at September 30, 2000, all of which were at 100% qualified 
occupancy.

For the six months being reported Series 19 reflects a net loss from
Operating Partnerships of $693,827.  When adjusted for depreciation, which is
a non-cash item, the Operating Partnerships reflect positive operations of
$771,995. This is an interim period estimate; it is not necessarily indicativeof the final year end results.















PART II - OTHER INFORMATION

Item 1.  Legal Proceedings

None

Item 2.  Changes in Securities

None

Item 3.  Defaults upon Senior Securities

None

Item 4.  Submission of Matters to a Vote of Security Holders

None

Item 5.  Other Information

None

Item 6.  Exhibits and Reports on Form 8-K

(a)  Exhibits

None

(b)  Reports on Form 8-K













SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

BOSTON CAPITAL TAX CREDIT 
                                FUND III L.P.



By:  Boston Capital Associates III L.P.





By:  C&M Associates d/b/a 
                                     Boston Capital Associates



Date:  November 20, 2000           By:

John P. Manning,
                                     Partner & Principal Financial

                                     Officer